Revenue Performance - Revenue for the three months ended September 30, 2025, was $659.9 million, representing a 23.7% increase from $533.3 million in the same period of 2024[84] - Total revenue increased by $126.6 million to $659.9 million for the three months ended September 30, 2025, representing a 23.7% growth compared to the same period in 2024[87] - Total revenue for the nine months ended September 30, 2025, rose by $249.3 million to $1,821.8 million, reflecting a 15.9% increase year-over-year[85] Costs and Expenses - Total direct costs for the three months ended September 30, 2025, increased by 27.1% to $463.0 million, up from $364.3 million in the prior year[84] - Total direct costs increased by $98.7 million to $463.0 million for the three months ended September 30, 2025, a 27.1% increase compared to the same period in 2024[88] - Total direct costs rose by $172.0 million to $1,266.5 million for the nine months ended September 30, 2025, a 15.7% increase year-over-year[88] - Selling, general and administrative expenses decreased by 2.3% to $48.1 million for the three months ended September 30, 2025, down from $49.2 million in 2024[84] - Selling, general and administrative expenses increased by $17.9 million to $152.6 million for the nine months ended September 30, 2025, marking a 13.3% rise compared to the previous year[89] - Reimbursed out-of-pocket expenses rose by 43.5% to $276.6 million for the three months ended September 30, 2025, compared to $192.8 million in 2024[84] - Reimbursed out-of-pocket expenses rose by $83.9 million and $136.6 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in the prior year[88] Profitability - Net income for the three months ended September 30, 2025, was $111.1 million, an increase of 15.3% from $96.4 million in the same period of 2024[84] - Net income for the nine months ended September 30, 2025, was $315.99 million, up from $287.37 million in 2024, reflecting an increase of $28.62 million[85] - Income before income taxes for the three months ended September 30, 2025, was $142.8 million, up from $118.8 million in the same period of 2024, marking a 20.2% increase[84] - Income tax provision increased by $14.9 million to $69.6 million for the nine months ended September 30, 2025, with an effective tax rate of 18.0% compared to 16.0% in 2024[94] - Income tax provision increased by $9.4 million to $31.7 million for the three months ended September 30, 2025, with an effective tax rate of 22.2%[94] Business Awards and Backlog - Net new business awards were $789.6 million for the three months ended September 30, 2025, compared to $533.7 million for the same period in 2024, reflecting a significant increase[79] - For the three months ended September 30, 2025, net new business awards were $789.6 million, compared to $533.7 million for the same period in 2024, representing a 47.9% increase[79] - For the nine months ended September 30, 2025, net new business awards were $1,910.2 million, compared to $1,700.3 million for the same period in 2024, representing a 12.3% increase[79] - Backlog as of September 30, 2025, increased by $73.2 million, or 2.5%, to $3,000.6 million compared to $2,927.4 million as of September 30, 2024[80] - Approximately $1,830.0 million to $1,850.0 million of the backlog is expected to convert to net revenue over the next twelve months[80] Cash Flow and Financing - Net cash provided by operating activities was $520.6 million for the nine months ended September 30, 2025, compared to $418.1 million in 2024, indicating a significant increase[101][102] - Cash and cash equivalents decreased to $285.4 million as of September 30, 2025, down from $669.4 million at the end of 2024, primarily due to stock repurchases[96] - The company repurchased 2,961,924 shares for $912.9 million during the nine months ended September 30, 2025, with remaining authorization of $821.7 million under the repurchase program[106] - Net cash used in financing activities for the nine months ended September 30, 2025, was $883.1 million, mainly due to $917.4 million in common stock repurchases[104] - As of September 30, 2025, the company had no indebtedness[108] Operational Insights - The company focuses on conducting clinical trials across major therapeutic areas, with particular strength in Oncology, Metabolic Disease, and Cardiology[66] - The global platform includes approximately 6,200 employees across 44 countries as of September 30, 2025[66] - The company utilizes a disciplined operating model centered on providing full-service Phase I-IV clinical development services[64] - The company expects to continue expanding operations through organic growth and selective bolt-on acquisitions, supported by cash flow from operations and existing credit facilities[98] Foreign Currency Impact - The average exchange rate for U.S. Dollars per Euro for the three months ended September 30, 2025, was 1.17, compared to 1.10 for the same period in 2024[83] - The average exchange rate for the Euro to U.S. Dollar was 1.17 for the three months ended September 30, 2025, compared to 1.10 for the same period in 2024[83] - The company reported favorable foreign currency adjustments of $2.6 million for the three months ended September 30, 2025, and $24.0 million for the nine months ended September 30, 2025[81] Accounting Policies - There have been no significant changes in critical accounting policies and estimates since the last annual report[110]

Core Insights - Medpace Holdings Inc. reported strong third-quarter earnings, with earnings per share of $3.86, exceeding the consensus estimate of $3.52, and sales of $659.9 million, surpassing the consensus of $640.99 million [1][2] - Year-over-year sales growth was 23.7%, and on a constant currency basis, revenue increased by 23.4% [1] - The company raised its fiscal 2025 earnings per share guidance to a range of $14.60-$14.86, compared to the previous range of $13.76-$14.53 and the consensus of $14.07 [2] Financial Performance - The backlog as of September 30, 2025, increased by 2.5% to approximately $3 billion [2] - Net new business awards for the third quarter were $789.6 million, resulting in a net book-to-bill ratio of 1.20x, compared to $533.7 million a year ago [2] - EBITDA for the third quarter rose by 24.9% to $148.4 million, representing 22.5% of revenue, compared to 22.3% a year ago [2] Market Sentiment - Analysts noted a significant increase in bookings, with net new business awards up about 30% sequentially and 60% from the first quarter of 2025 [5] - There is rising optimism in biotech funding, with indications that demand in the biotech sector has bottomed out and is beginning to improve [5] - Medpace appears to be benefiting from several large wins in the metabolic space, particularly related to GLP-1 [5]

Core Insights - The company's new orders increased significantly by 49% in the third quarter compared to the same period last year [1] Group 1 - The substantial growth in new orders indicates strong demand for the company's products and services [1]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $659.9 million, representing a year-over-year increase of 23.7% [5][6] - Year-to-date revenue as of September 30, 2025, was $1.82 billion, an increase of 15.9% [7] - EBITDA for Q3 2025 was $148.4 million, up 24.9% from $118.8 million in Q3 2024 [7][8] - Net income for Q3 2025 was $111.1 million, a 15.3% increase compared to $96.4 million in the prior year [8] - Full-year 2025 total revenue is expected to be in the range of $2.48 billion to $2.53 billion, representing growth of 17.6% to 20% over 2024 [9] Business Line Data and Key Metrics Changes - Net new business awards entering backlog in Q3 increased 47.9% year-over-year to $789.6 million, resulting in a net book-to-bill ratio of 1.20 [5][6] - Ending backlog as of September 30, 2025, was approximately $3 billion, a 2.5% increase from the prior year [5][6] Market Data and Key Metrics Changes - Pass-through costs are expected to remain high, representing between 41% and 42% of revenue [5] - The therapeutic mix has shifted to faster-burning studies, impacting the concentration of reimbursable costs [7] Company Strategy and Development Direction - The company is focused on refilling its pipeline of opportunities and anticipates low double-digit revenue growth for 2026 [4] - Management indicated that the pass-through costs may peak in Q4 2025 and then decrease in 2026 [14] - The company is experiencing a competitive environment with an increase in the number of CROs bidding for projects, but maintains a strong competitive position [49][50] Management's Comments on Operating Environment and Future Outlook - Management noted that cancellations have been a significant factor affecting business, rather than a weak funding environment [25] - The overall business environment remains stable, with improvements in funding and fewer cancellations expected to continue [41] - Management expressed confidence in the ability to convert backlog into revenue, with a larger pre-backlog bucket of awarded studies [22][39] Other Important Information - The company repurchased approximately 14,649 shares for $4.5 million in Q3 2025, with $821.7 million remaining under the share repurchase authorization program [8][9] - The effective tax rate for 2025 is projected to be between 18.25% and 18.75% [9] Q&A Session Summary Question: How should we think about the pass-throughs in relation to the increase in metabolic work? - Management indicated that pass-through costs are expected to level off and may decrease in 2026, driven by the timing of projects and the nature of new studies [12][14] Question: Why is the EBITDA growth lower than revenue growth? - The primary driver for the lower EBITDA growth is attributed to pass-through costs, along with other challenges such as exchange rates [16][18] Question: How does the conversion rate of pre-backlog factor into future revenue? - Management noted that the pre-backlog of awarded studies is larger than the current backlog and is expected to improve backlog conversion in 2026 [22][39] Question: What is the competitive landscape like? - Management stated that while competition has increased, their win rate remains stable, and they do not see a significant deterioration in competitive position [49][50] Question: Can you provide more detail on the metabolic indexing? - Management confirmed that GLP-1 accounts for a significant portion of their metabolic work, but there are also other therapeutic areas contributing to growth [74][75]

Q3 2025 FINANCIAL RESULTS OCTOBER 22, 2025 FORWARD LOOKING STATEMENTS & NON-GAAP FINANCIAL MEASURES Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward- looking statements, including without limitation, statements regarding our forecasted financial results and the effective tax rate ...

Medpace (MEDP) came out with quarterly earnings of $3.86 per share, beating the Zacks Consensus Estimate of $3.5 per share. This compares to earnings of $3.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +10.29%. A quarter ago, it was expected that this provider of outsourced clinical development services would post earnings of $3 per share when it actually produced earnings of $3.1, delivering a surprise of +3.33%.Over the ...

Exhibit 99.1 Investor Contact: Lauren Morris 283-227-6409 l.morris@medpace.com FOR IMMEDIATE RELEASE Media Contact: Michael Maley 283-227-6367 m.maley@medpace.com Medpace Holdings, Inc. Reports Third Quarter 2025 Results CINCINNATI, OHIO, October 22, 2025-- Medpace Holdings, Inc. (Nasdaq: MEDP) ("Medpace") today announced financial results for the third quarter ended September 30, 2025. Third Quarter 2025 Financial Results Revenue for the three months ended September 30, 2025 increased 23.7% to $659.9 milli ...

Core Insights - Medpace Holdings, Inc. reported a revenue increase of 23.7% for Q3 2025, reaching $659.9 million compared to $533.3 million in Q3 2024 [1] - On a constant currency basis, revenue growth for Q3 2025 was 23.4% compared to the same period in the previous year [1] - The company's backlog as of September 30, 2025, indicates strong future revenue potential [1]

Company Performance - Medpace (MEDP) closed at $521.21, reflecting a +1.34% increase from the previous day, outperforming the S&P 500's decline of 0.63% [1] - Over the past month, Medpace shares have risen by 3.31%, surpassing the Medical sector's gain of 3.09% and the S&P 500's gain of 0.92% [1] Upcoming Earnings - Medpace is set to release its earnings on October 22, 2025, with an expected EPS of $3.5, representing a 16.28% increase year-over-year [2] - The consensus estimate for revenue is $640.45 million, indicating a 20.09% growth compared to the same quarter last year [2] Annual Estimates - For the annual period, the Zacks Consensus Estimates project earnings of $14.03 per share and revenue of $2.46 billion, reflecting increases of +11.08% and +16.86% respectively from the previous year [3] Analyst Revisions - Recent changes to analyst estimates for Medpace indicate a favorable outlook on the company's business health and profitability [3] - The Zacks Rank system, which incorporates these estimate changes, suggests potential stock price performance [4] Valuation Metrics - Medpace has a Forward P/E ratio of 36.65, which is a premium compared to the industry average Forward P/E of 17.34 [5] - The PEG ratio for Medpace is currently 3.23, compared to the average PEG ratio of 1.73 for the Medical Services industry [6] Industry Ranking - The Medical Services industry, which includes Medpace, has a Zacks Industry Rank of 96, placing it in the top 39% of over 250 industries [6][7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Market Overview - The market is performing well, primarily driven by AI advancements, with slow economic growth and rising consumer spending, particularly among high-income individuals [1][2] - Business investment remains stable, and corporate earnings growth is in double digits, creating a favorable economic outlook [2] Investment Strategies - Investing in the healthcare sector is recommended as it has underperformed in recent years, with companies like Danaher and Medpace being highlighted for their resilience against economic fluctuations [4][5] - Blackstone is favored due to its dependence on capital markets, benefiting from lower interest rates and a favorable IPO market, along with significant investments in AI data centers [7][8] Company Analysis - Danaher and Medpace are seen as economically insensitive, with their business driven by drug development cycles and R&D spending, making them attractive investments despite economic uncertainties [5][6] - Blackstone is noted for its strong track record in investment performance, new product development, and capital allocation that benefits shareholders through dividends [10][11] Technology Sector Insights - Nvidia is identified as a top investment due to the increasing demand for AI infrastructure, with expectations for capital expenditure from major tech companies to rise [12][13] - The AI sector is expected to continue leading the market, with significant growth in usage from major players like Google and OpenAI [15][16] Long-term Investment Perspective - For investors with a time horizon beyond five years, equities are considered a better option than bonds, despite the inherent volatility of the stock market [18][19]